Question

Adam bought 20 shares of stock XYZ at the close price of $10.51. He bought 20 more shares a year later at the price of $8.93. If his broker charges $25 for each transaction, how much money did Will spend in total to make these purchases?

A. $178.60
B. $438.80
C. $210.20
D. $388.80

Answer 1

Answer: $438.80

Explanation:

Answer 2

Amount he paid for first 20 shares
= $25 + (20 x $10.51)
= $25 + $210.20
= $235.20

Amount he paid for next 20 shares
= $25 + (20 x $8.93)
= $25 + $178.60
= $203.60

Thus, total amount paid
= $235.20 + $203.60
= $438.80
Answer is B.